Tectonic Advisors LLC Buys 61,669 Shares of Enterprise Products Partners L.P. $EPD

Tectonic Advisors LLC grew its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 678,769 shares of the oil and gas producer’s stock after buying an additional 61,669 shares during the period. Enterprise Products Partners accounts for approximately 1.2% of Tectonic Advisors LLC’s portfolio, making the stock its 16th largest holding. Tectonic Advisors LLC’s holdings in Enterprise Products Partners were worth $21,225,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Energy Income Partners LLC boosted its position in Enterprise Products Partners by 14.3% during the 2nd quarter. Energy Income Partners LLC now owns 14,624,238 shares of the oil and gas producer’s stock valued at $453,498,000 after buying an additional 1,834,659 shares during the period. Northside Capital Management LLC purchased a new position in Enterprise Products Partners during the 2nd quarter valued at about $47,628,000. Corient Private Wealth LLC raised its position in Enterprise Products Partners by 119.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,414,035 shares of the oil and gas producer’s stock valued at $74,859,000 after purchasing an additional 1,313,976 shares during the last quarter. HRT Financial LP lifted its holdings in Enterprise Products Partners by 118.1% in the 2nd quarter. HRT Financial LP now owns 1,528,580 shares of the oil and gas producer’s stock worth $47,401,000 after buying an additional 827,780 shares during the period. Finally, Prospera Financial Services Inc grew its position in shares of Enterprise Products Partners by 213.0% in the 2nd quarter. Prospera Financial Services Inc now owns 980,094 shares of the oil and gas producer’s stock worth $30,395,000 after buying an additional 666,967 shares during the last quarter. Hedge funds and other institutional investors own 26.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EPD. Scotiabank reduced their target price on Enterprise Products Partners from $35.00 to $34.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Monday, December 1st. Citigroup reiterated a “buy” rating and set a $36.00 target price (up from $35.00) on shares of Enterprise Products Partners in a report on Tuesday, December 16th. Morgan Stanley cut Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 price target on the stock. in a research report on Thursday, December 18th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Enterprise Products Partners in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.64.

Insider Activity

In other Enterprise Products Partners news, Director John R. Rutherford acquired 15,000 shares of Enterprise Products Partners stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average cost of $32.09 per share, for a total transaction of $481,350.00. Following the acquisition, the director owned 173,586 shares of the company’s stock, valued at $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 32.60% of the stock is currently owned by insiders.

Enterprise Products Partners Stock Down 0.2%

Shares of Enterprise Products Partners stock opened at $32.03 on Friday. The company has a 50-day simple moving average of $31.86 and a two-hundred day simple moving average of $31.56. Enterprise Products Partners L.P. has a 52-week low of $27.77 and a 52-week high of $34.53. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. The stock has a market capitalization of $69.29 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 2.45 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.07). The firm had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $11.83 billion. Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.Enterprise Products Partners’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. On average, analysts anticipate that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 31st were paid a $0.545 dividend. The ex-dividend date was Friday, October 31st. This represents a $2.18 annualized dividend and a dividend yield of 6.8%. Enterprise Products Partners’s payout ratio is currently 82.26%.

Enterprise Products Partners announced that its board has authorized a stock buyback plan on Thursday, October 30th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas producer to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.